Connect with us

Techniques

Which Selling Technique Will Best Benefit Your Business?

Product selling, solution selling, and insight selling: Do you know the differences?

George Deeb

Published

on

happy-salesman

Not all products or services are created equal in terms of the strategy you use to sell them. And, not all customers are created equal, in terms of how sophisticated they are about your product line and how much they may need your product or service.

Related: How to Give Your Sales Strategy the Winning Edge

What’s more, selling into different levels of an organisation often requires different types of selling techniques, in order to get customers’ attention. Below, I’ve summarised the three most typical selling techniques used today.

1. Product selling

Product selling is exactly what it sounds like: Selling the advantages or features of a specific product or service. With product selling, the questions from customers are predictable. Products are used in similar ways by customers.

Prices are typically set. Marketing materials are standardised. And salespeople typically require a lot of formal training. Product selling deals are typically conducted with low-to-mid-level employees of the customer’s organisation.

2. Solution selling

Solution selling goes beyond simply selling products or services. Here, you are trying to focus on a customer’s pain point, and address how your product or service is the best solution. The bigger the pain point (e.g., this product/service can dramatically reduce costs, improve customer service or open up new revenues streams), the more your solution is needed.

With solution selling, customer questions are unpredictable and typically require research. In addition, the solutions vary from customer to customer. Prices can vary substantially based on the level of services provided.

Sales reps customise marketing materials to the specific customer’s needs. And the salesperson usually needs to train in order to gain a deep understanding of the situation. Solution selling deals are typically conducted with mid-to-high-level employees within a customer’s organisation.

In 1998, Neil Rackham published the popular book SPIN Selling to help create a process for solution selling. “SPIN” stands for the four sequential steps of the process, and the right types of questions to ask in each step:

  1. Situation questions where you collect facts (e.g., simply learn where the customer is today);
  2.  Problem questions to ask in order to identify problems (e.g., what is not working in the current situation);
  3. Implication questions to learn the consequences of problems (e.g., quantifying the scope of the problems); and
  4. Need-payoff questions to identify the value payoff of a solution (e.g., quantifying the economic lift from the solution to the problem. Possibilities include new revenues, lower expenses and better customer service benefit).

SPIN selling gives your salesperson a playbook to work from in selling your solution.

Related: Top Tips for Making 2015 your Year for Sales

3. Insight selling

Don’t confuse solution selling with insight selling, which has become more broadly used in today’s era of big data and big analytics. With insight selling, the pain point is unknown to the customer. You are helping your customer to identify a problem that he or she did not know even existed, opening a space in which you can easily sell your product or service.

With insight selling, your salesperson is actually playing the role of business coach or strategy consultant to the client, holding their hands through the process of buying and implementing your solution.

Insight sales deals are typically made at the high-to-executive levels of a customer’s organisation, with the people who care the most about taking their business to the next level of success.

The common mistake startups make

Aas you can see, sales is not a “one size fits all” solution. You need to employ the right tactics and hire the right type of salespeople, to fulfill whichever of the above techniques is most relevant for your business.

The biggest mistake most entrepreneurs is to focus too directly on just selling their product. Often, they forget to think about the solutions and insights their product offers customers (which could make it a much easier sale).

So, do a critical assessment of your needs, and more importantly your customer’s needs, then plan accordingly.

Related: Do This to Improve Your Cash Flow

Be sure to read my companion piece, “The 1,024 Types of Salespersons — Hire the Right Ones,” to make sure you recruit the best sales team for your specific needs.  As you will learn, not all salespersons are created equal, and hiring the right person can make or break your success.

This article was originally posted here on Entrepreneur.com.

George Deeb is the managing partner at Chicago-based Red Rocket Ventures, a startup consulting and financial advisory firm based in Chicago. Red Rocket is also a founding member of Ensemble, an all-star powered 'Digital Services Suite.'

Techniques

Wow Them World Class With This Customer Service Myth

Without fail, every single business says that one of their differentiators is customer service. When was the last time you were wowed? Most businesses don’t walk their talk. Which means if you get service right, it really can be a differentiator.

Basil O’Hagan

Published

on

customer-service-advice

Customer loyalty is earned by being great, not satisfactory. Aim to be exceptional in your business. Deliver world-class customer service. Service that’s better than anyone else in your industry. That’s how you become great, and how you attract loyal customers. You have set yourself apart from the competition.

Let’s say you own a plumbing business — Plumb Rite. Set out to provide prompt, efficient service, with friendly workers who can explain the service they offer, and deliver quickly, well and affordably.

Satisfactory Is Not Good Enough. Be World Class!

Be remarkable. When you finish repairing a leak, you want your customers to go, “Wow, how good were those guys!”

Remember your customers’ names and where they live. Give them discounts, or free services where it’s warranted. Meet them in person and explain repairs to them.

While you should be aware of your competition, don’t simply replicate what they do. Maybe they’re terrible. Rather provide the best customer service you possibly can. Being satisfactory means you’ll be part of the bunch. Rather be great and stand out from the herd.

First, consider what customer service actually means. Do you make the lives of your customers easier? Too many businesses make the sale, and then move on. True customer service has a long-term outlook.

Once you’ve efficiently handled a customer’s business and sent her on her way with a smile and a friendly greeting, your work is not yet done.

Related: 9 Top Customer Service Turnoffs That Are Chasing Away Your Sales

Part of serving her needs is following up and making sure that everything is in order, after the sale is complete. After all, you are building a LASTING customer relationship.

Let’s say you run a camping store selling essential gear to the camping and outdoor community. A woman named Tumi comes into your store. She’s not really into camping, but she needs a tent.

You enquire what she needs a tent for and learn that there’s a music festival coming up in Mpumalanga this weekend. There are no chalets available, so camping is the only option. She needs a tent.

You recommend a leisure tent, help her pick the right colour, give her a brief tutorial on how to put it up and send her on her way. This is an awesome opportunity to follow up with some after-sales service once she returns from her camping weekend.

This is go-the-extra-mile time

Give Tumi a call the next week and — as professionally as possible — ask how she enjoyed her tent. Was she able to put it up without too much trouble? Was it warm enough? None of the zips malfunctioned?

This emphasises that customer service comprises service before the sale, during the sale, and after the sale.

Some other opportunities for good after-sales service:

  • A travel agent following up with a client during and after their holiday ensure everything went according to plan.
  • A butcher recommends a cut of meat to a customer. The next time he comes in, the butcher asks, “How was that kudu steak you bought last time?”
  • Cross-selling once you’ve made a sale. A parent brings their child into Toy Kingdom. You remember you’ve sold them an Elsa Frozen dress. “How about these lovely Frozen slippers to go with your Elsa dress?”
  • An automated SMS to thank customers once they pay their cellphone account.

Related: Good Customer Service Is About Relating At The Same Level


Service Tip

More than anything, following up shows you care. You want your customer to be satisfied more than you want her money. We’re also building a relationship that’s going to outlast this single transaction. Good after-sales service drives word-of-mouth recommendations and helps set you apart from your competition.

Continue Reading

Techniques

5 Signs Your Customers Have Questions You Aren’t Answering

You may be causing confusion somewhere in the customer journey. And confused customers don’t buy.

Sujan Patel

Published

on

customer-advice

When you come to my website, the first thing you see is me, a description of what I do and a button that encourages you to click on it. There are no surprises, no guessing where you should go next. I’ve laid it all out right in front of you.

Not all businesses make things this clear. Some have too much clutter on their homepage, overwhelming visitors with information. In fact, 75 percent of consumers polled in research by Stanford said that they judged a company’s credibility by its website design.

Such lack of clarity doesn’t apply just to websites. This could be a problem in your emails, your sales process, even your physical stores. And a  lack of clarity is troubling, because it confuses your customers, and confused customers don’t want to buy from you.

You need to make sure your business is focused on ensuring a positive experience. That means making sure no customer question is left unanswered.

Not sure if your business is suffering from a lack of clarity? If you recognise any of these five signs, there’s a good chance your customers are confused.

1. Your website stats seem off

We tend to assume that most people know what to do when they come to a website. But if your website is unorganised or cluttered, customers may not know where to go when they get there.

Maybe the customer wants to call you, but your contact information is buried. Or maybe he or she wants to purchase a product directly off your site, but the checkout process is too clunky.

If something on your website is off, your stats are going to show it. You’ll probably see a lot of visitors but not a lot of return visitors, and the amount of time they spend on your site may be low.

So, how do you fix it? Go through your website with a fine-toothed comb. Have someone unfamiliar with your site go through it and give you feedback. Put yourself in your customers’ shoes and look at the site from their perspective. How can you make their experience on your site as smooth as possible?

Related: How To Win Trust And Wax Sales

2. The customer is indecisive

When customers are in the decision phase, you want to do everything you can to seal the deal and push them along with their decision. If they’re waffling or can’t seem to make that decision, there’s something wrong.

It could be that they don’t have all the information they need. If they’re confused about something, it’s your job to set their mind at ease. Make sure you’re open with your customers, and offer help with any questions or concerns they might have. FAQs, live chat options, videos and product resource pages can help tremendously here.

3. The customer doesn’t know how to use the product

customer-products

Is there one question that keeps coming up again and again from your customers? If you’re constantly getting the same question about your product or service, the answer needs to be clearer.

Customers shouldn’t have to call in to your support team for simple issues. You need to make it easy for customers to use your products and services. That means offering to help set things up for them and properly onboarding and training them in your product’s use. The more you can prepare your customers and anticipate their needs, the more satisfied they’ll be.

4. The customer is complaining

According to a survey by American Express, seven out of ten consumers in the United States have spent more money to do business with a company that offers great service. Excellent customer support is key to the success of your business, and without it, customers will be unhappy.

When customers are unsatisfied with the level of service they’re receiving, you’ll hear about it. If you’re getting a lot of complaints or seeing a lot of product returns, there’s probably something wrong.

To avoid getting an earful, you need to get to the root of the issue and find out the cause of your customers’ unhappiness. Is it your customer service team? Slow shipping times? Or something deeper? You may be causing confusion somewhere in the customer journey.

Related: How You Can Guarantee Customer Satisfaction

5. Sales are down

If you aren’t selling, something is wrong. It’s as simple as that. If sales are consistently on a decline, you need to go back and find out where the problem is.

Customers want to know what they’re getting into when they make a purchase. You need to make it clear what you offer, why customers should buy from you and how exactly they can go about buying.

The key here is clarity. Customers aren’t going to jump through hoops to purchase your product. You need to guide them through the sale by ensuring their questions are answered before they’ve even asked them.

This article was originally posted here on Entrepreneur.com.

Continue Reading

Company Posts

On Top Of Their Game

Innovative and focused on always providing superior solutions to the energy sector, Karebo Group works with top-quality providers to ensure 100% service delivery to its clients.

TomTom Telematics

Published

on

karebo

As a provider of dynamic professional services and products to the energy sector, Karebo Group’s core focus is delivering high-quality services and products to its clients.

“Our team has a long-standing and proven track record within the energy market,” says Ravi Govender, owner of Karebo Group. “Our in-depth knowledge and experience enables us to offer innovative and superior solutions to our clients. As a team, we thrive on the intellectual challenges that energy markets present.”

Karebo Group’s value proposition is to always deliver within time and budget, 100% customer commitment according to contract; operations must deliver consistently; and the entire team must be committed and 100% professional in delivery.

Because Karebo Group provides a turnkey solution to its clients, managing its own fleet enables the team to provide the best and most efficient service possible. “We’ve learnt the benefits of controlling the entire value chain,” says Ravi.

“In the past we have outsourced our logistics, and it impacted both our costs and our service delivery. By managing our own fleet, we can reduce costs and have happier clients.”

Cost-effective solutions

Karebo’s customers face significant challenges related to energy costs, which means it’s essential for the business to offer its solutions as cost-effectively as possible. Controlling transport and logistics costs is one way to do this, but it’s just one factor that the business considers. “We have solutions for all of the cost challenges that our customers face,” says Ravi.

Related: Is It Time To Consider Renewable Energy To Power Your Business?

“The problem is that while these solutions have a great return on investment, the ability to raise or channel capital to them is a challenge. General market conditions are also contributing to the indecision on allocating limited capital to these projects.”

In response, Karebo has overcome many of these challenges by assisting its customers to raise their own capital for projects. “We have moved the conversation from a CAPEX conversation to an OPEX conversation,” he explains.

The TomTom Telematics Difference

In order to keep its own operating expenses as lean as possible, it’s essential for Karebo to work with suppliers who understand their business and its needs. “We’ve been working with TomTom Telematics for three years and in that time we’ve reaped the full benefits of using the system to its full potential.

“WEBFLEET’s features include loading orders, geofencing, tracking and reporting, all of which have assisted us in optimising routes and working efficiently to see more customers, thereby increasing productivity.

“The order dispatch features via navigation device enable our teams to keep to their schedules, while address-visit reports help our teams to be more efficient by eliminating unnecessary visits to the same locations. The onboard navigation system also assists in communicating with our teams via a messaging service — teams can message our head office via the system if they need immediate assistance with correcting addresses or if any vehicle maintenance required. In addition, head office has a full view of the location of all of its teams across Africa, at any given point in time.”

According to Ravi, TomTom Telematics has played a significant role in the overall business, not just in terms of monitoring vehicles, but on bottom line costs as well.

“We chose TomTom Telematics based on its services, which met our specific requirements. Thanks to WEBFLEET, our company has seen a reduction in fuel costs, increased productivity and vehicle maintenance costs have been reduced as we place all driver behaviour reports on our company chat to correct driver behaviour.”

The leading edge

Ravi Govender was part of the national steering committee that put together the M&V framework that the original Eskom DSM programme was measured against. He also led the UKZN M&V team from January 2002 to December 2003 before joining Karebo in 2004.

Related: How do I start a retail energy business with Eskom being the only provider in South Africa?

Since joining Karebo, Ravi has ensured that his passion in developing solutions that transform and promote DSM has helped to place Karebo at the forefront of energy efficiency in South Africa.

Under Ravi’s leadership, Karebo has been focused on increasing the penetration of DSM in the South African environment and beyond. As a result, Karebo has been involved in several notable projects in this arena, including developing the framework and methodology to develop and implement large-scale mass rollout programmes.

Karebo pioneered the mass rollout of CFLs for Eskom and through this foundation several other programmes that been implemented, from the mass rollout of solar water heaters and residential mass rollouts, to developing the first large-scale LED programmes that were funded by Eskom. At that point it was the first and largest LED rollout approved anywhere in the world.

Karebo was also involved in both of Eskom’s Residential Mass Rollout phases; was contracted by the World Bank to assist Malawi on an advisory basis for the first CFL programme rolled out in that country; and was recently appointed by the EU through the European Commission to implement Solar Power Lighting to Communities and Schools in Lesotho.

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending